High-value transactions may present an increased risk of chargebacks. Check out our chargeback guide here for more information.
What is a high-value transaction?
A high-value transaction is any card transaction equal to or above £5,000. These come with associated risks, so we’ve set out a few guidelines on transaction limits to keep you safe.
Processing a high-value payment
The greater risk of high-value payments means, as a financial institution, we need to verify such payments accepted through our products and services. To protect your business we may request the following documents for a high-value payment processed through SumUp:
A signed copy of the invoice for the payments
A signed copy of the contract between you and your customer (if applicable)
A signed copy of the SumUp declaration (see a copy below)
A proof of delivery (when the goods have been shipped)
Any other relevant documents, including your customer's contact information
Please consider collecting and keeping a record of the appropriate documents to ease the process of verifying high-value payments.
Understanding the credit card holder declaration
Asking your customer to agree that a payment has been authorised reduces the possibility of receiving a chargeback. This declaration is a way to verify a transaction.